TheMarketHacker
Long

Oct 2015 Week 2: Cable and Fiber Longs

FX:EURUSD   Euro Fx/U.S. Dollar
53 0 1
Cable's rally is not over. It's reaching for 1.548 where sits a lot of Short Orders. If it reaches that level, I expect Bears to add to their Shorts while at the same time the Bulls will take some profit. That combine will make the price dive down once again. I expect it to reach that level no later than Wednesday this week or as early as Tuesday. My ideal entry for long would be 1.529. Then once it reaches 1.548, it's a Sell.

As for the Fiber, Bulls are also taking over as it seemed to breakout from the Weekly Pennant . But it might retrace a bit to 1.13 before continuing up later this week. I will take a Long on 1.13 with maximum target at 1. 44             .

The USD is weak this week, so EUR and GBP are taking turns attacking it. I expect GBP to attack on the first half of the week, while EUR's turn will take place at the latter half.
Comment: GBP Went down too early and didn't reach our target Sell at 1.548. UK's CPI y/y's at -0.1% was the driving factor.
Comment: Fiber is still within our radar.
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